Australians are being warned to watch out for scammers trying to sell fake tickets to Taylor Swift’s upcoming tour, with the consumer watchdog saying there has been a spike in reports.

Australian Competition and Consumer Commission deputy chair Catriona Lowe said scammers were compromising social media accounts to sell fake Swift tickets to their friend lists.

“The Eras Tour is the hottest ticket in town this summer and scammers are seizing the opportunity to dupe Australian Swifties looking to buy resale tickets,” Lowe said on Wednesday.

“This scam is a low act, seeking to take advantage of fans, many of whom are young and are desperately trying to secure a ticket to make their dream of seeing Taylor Swift live come true.”

There have already been 273 reports to the National Anti-Scam Centre of people being duped by fake Swift tickets since sales began last June, the ACCC revealed.

Losses have already reached a whopping $135,000, with the ACCC warning that figure will likely increase in coming months.

Tweet from @Scamwatch_gov

People in NSW have lost the most ($54,645 across 114 reports), followed by Victorians ($53,607 over 96 reports) – two cities where Swift is scheduled to perform at sold-out stadiums when her Eras tour finally makes it Down Under.

“We are working with law enforcement and social media platforms to combat these scams but are concerned that scam activity is only going to increase in the lead-up to Taylor Swift’s arrival in Australia in mid-February,” Lowe said.

“We are urging fans to be alert to scammers and think twice before seeking to buy a ticket on social media, even if it’s from a friend or community page you trust.”

The ACCC said the best way to purchase tickets to see Swift was from authorised reseller, Ticketek Marketplace.

How does the scam work?

Usually fraudsters will hack into one of your friends’ social media accounts and then use it to post about selling their tickets to an upcoming Swift concert.

Once you pay, they disappear and you’re left without a ticket to see the star.

The best way to avoid falling for it is to follow the ACCC’s three step anti-scam advice:

• First, “stop” and think about what you’re doing before you give money or personal information to someone online;
• Second, “think” about whether you really know who you are communicating with;
• Third, “protect” by acting quickly if something feels wrong and report it to Scamwatch.

For more details, see the Choice website.